Water heater situation

Investor from Monroe, Wisconsin

posted about 1 year ago

I am closing tomorrow on a property with a fuel oil fired water heater from 1988. The heater is rusted at the bottom and is "on borrowed time" so I am looking to replace it with a natural gas heater. The heater is in the basement next to 2 forced air natural gas furnaces and should be easy to install a new gas water heater however the current tenants in this duplex split the cost of the fuel oil. The gas and electric are separated but if I put a new heater in, I would have to put it on one of the tenants gas meters. Is there something I am overlooking? This property has only 1 water heater and 1 water meter so I pay the water.

Investor from Lincoln, Rhode Island

replied about 1 year ago

@Samantha Klein If you I couldn't easily add another one I would include it. Typically for including hot water we could get between $25-50 per month for rent in my area and the gas for hot water should only cost $25-50 monthly.